What’s the issue?
On its quarterly earnings call earlier this month, Equitrans Midstream, the developer of the Mountain Valley Pipeline (MVP), reaffirmed its belief that the project will go into service in the summer of 2022.
Why does it matter?
The additional capacity offered by MVP is critical to continued growth in the production from the Marcellus/Utica Basin, as it is the only substantial growth project currently under construction.
What’s our view?
While it is certainly possible that the stars will align to allow MVP to be in-service by the summer of 2022, we think the odds of that are remote as long as Chairman Glick singularly controls the grant of authority to resume construction.
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